Chelsea Flats & Houses For Sale & Rent

Russian Investment in London Property Up by 5%

2012-02-08T11:16:00.000-08:00

Bloomberg reports that Russian investors increased their share of luxury-home purchases in London’s most expensive neighborhoods more than any other group in the fourth quarter, Hamptons International said, as Vladimir Putin bids to regain the presidency in March amid growing opposition.

Russians accounted for 16 percent of all transactions in the Chelsea, Kensington, Knightsbridge and Belgravia neighborhoods handled by the London-based broker, according to a report today. That was up from 5 percent in the previous three months and 1 point more the combined total for European Union countries.

“It’s a precaution against things going too far in the wrong direction,” Adam Challis, head of residential research, said by phone. “The very well-connected folk realized that there was going to be some serious political uncertainty and that they’re better off putting their money into London property.”

Russian Prime Minister Putin faces the biggest challenge to his rule since coming to power 12 years ago after allegations of fraud in Dec. 4 legislative polls sparked mass protests. Putin’s voter support has fallen to 37 percent, according to an opinion poll by the independent Levada Center, indicating he will need to face one of the four opposition candidates in a second-round run-off.

Chelsea Building Society Offers Borrowers Competitive Mortgages

2012-02-06T02:39:00.000-08:00

Chelsea Building Society said it is continuing in its aim to offer borrowers the most competitive mortgage deals with the lowest ever five year fixed rate deal.

Borrowers wanting a mortgage of up to 70% LTV (loan to value) can benefit from a rate of 3.19%, or 3.39% for the offset option. Both mortgages have a fee of £1,495.

‘This is the lowest five year fixed rate mortgage ever to come to the market, which is great for customers wanting longer term security in fixing what is likely to be their biggest monthly outgoing,’ said Chelsea Building Society product manager Jemma Smith.

Chelsea Building Society is also reducing two year fixed rates available up to 85% LTV:3.44%, or 3.64% offset, each with an £1,895 fee and 3.59%, or 3.79%, each with a £395 fee.

This Chelsea mortgage could prove a lifeline for home owners worried about increasing mortgage payments. Although it may be another year before the base rate rises, the only way for mortgage rates to go in the long term is up. Consumers can protect themselves against these rises by fixing but this has tended to come at a high price. The launch of this lowest long term 5 year fixed in market from Chelsea will offer peace of mind but without the hefty price tag.

London Rents are 10.2% Higher Than Average Mortgage Payments

2012-02-02T02:21:00.000-08:00

Purchasing a property is on average more than £100 a month cheaper than renting one, according to new figures from the Halifax.

According to the bank, the cost of buying a three bedroom home in the UK stood at £600 per month while renting the same type of property would be 16 per cent higher at £716.It’s a considerable difference from when the Halifax looked at the market in 2008. Back then the cost of buying was an astounding 29 per cent greater.

In the main this has been driven by mortgage rate dropping to lower than expected levels. Currently the average rate paid by a property buyer stands at 3.63 per cent, compared to 5.75 per cent four years ago.At the same time, the average cost of renting has risen by nine per cent due to an increased demand for rental properties.

Londoners appear to be ones who would most benefit from buying as currently the cost of renting works out 10.2 per cent higher than the average mortgage repayment, even after the cost of funding a deposit.Indeed, out of all the regions in the UK only Wales has cheaper rental than purchase figures (£474 opposed to £479).

Martin Ellis, housing economist at Halifax, stated: “The affordability gains for buyers relative to renters in the last three years have been significant.“The average mortgage payment has fallen dramatically over recent years as a result of falling house prices and mortgage rates. At the same time, rents have risen due to strong demand for rented accommodation.”

It seems that this year may be when many people take the plunge by their first home.
A recent survey conducted by MyIntroducer.com and Virgin Money found that 24.78 per cent of mortgage and financial advisers expected to see more first-time property buyers pass through their doors during 2012.

First Time Buyer News

London Property Market News: Chelsea and Kensington house UK's most expensive streets

2012-01-03T01:11:00.000-08:00

London property prices have cemented their position as the highest in the country, with Kensington and Chelsea holding six of the top ten most expensive streets.

Campden Hill Square, just around the corner from Kensington Palace, was named as the most expensive street in the UK, with an average price of £4,863,000, according to Lloyds TSB research.

Drayton Gardens, Dawson Place, Duchess of Bedfords Walk, Cadogan Square and Bramerton Street, all in the borough, also make the top ten.

Suren Thiru, economist at Lloyds TSB, said: "The area clearly has its attractions with excellent schools, upmarket shops, close proximity to the capital's business district and impressive properties."

Completing the top ten were Parkside, Hamilton Terrace, Cedar Park Gardens and Hampstead Lane, all within Greater London, reflecting the higher property prices seen in the capital.

"Outside London, the areas with the most expensive streets are generally located well away from central areas, where buyers are typically attracted by larger properties and more green space," Mr Thiru added.

The average house price in the UK now stands at £241,461, according to figures from the Land Registry of England and Wales and the Scottish Executive Agency.

London Property News

First time Buyers New Opportunities

2011-12-15T02:13:00.000-08:00

While borrowing for a property purchase is far from an easy thing, one mortgage broker believes that first-time buyers are now seeing a host of new opportunities becoming available to them.

Andy Pratt, chief operating officer at London-based Alexander Hall, says that there are some positive signs for those looking to make the first move onto the property ladder with more and more lenders now offering mortgages at high loan to values (LTVs).

However, he is keen to point out that the best interest rates on the market are still those available to people with the ability to put down a larger deposit.

“It is still a 20 per cent deposit to get a good mortgage,” Mr Pratt stated. “[But] there are positive signs in terms of high street lenders coming to the market with higher LTV products.

“There was one good sign when we saw the high street lender Woolwich come to market with a 90 per cent loan to value, although the rate is a bit higher."

He added that there are some bargain properties around for those prepared to look around carefully and potential first-time buyers should do all they can to ensure that the cost of Christmas does not knock back their ability to save a deposit.

And it’s a good time to have a mortgage for many as data released this month by the Council of Mortgage Lenders (CML) shows that monthly mortgage payments are now on average at their lowest levels for almost eight years.

Due to a sustained period of low interest rates, with many people benefiting from long term trackers following the Bank of England base rate, the proportion of household income spent each month on funding a mortgage is 12.3 per cent, the lowest it has been since the beginning of 2004.

Mortgage Rate & Home Loan News

New Build Prime Central London Property Booms

2011-11-25T03:49:00.000-08:00

Super-prime new homes in London are expected to achieve record values of up to £10,000 sq ft within the next five years, fuelled by an influx of wealthy overseas investors and lack of housing supply, reports Whathouse.

The recent boom in prime central London property prices has benefitted homes in premium locations like Mayfair, Chelsea and Knightsbridge, with prices rising from £1,000 sq ft in 2000 to over £7,500 sq ft, as achieved for new build apartments at One Hyde Park - believed to be the most expensive price for any home in the world.

But while most property experts project that property prices will generally fall nationwide in the short to medium term, Knight Frank believe that the market in prime central London looks ripe for further growth, with values expected to reach a staggering £10,000sqft in the most exclusive new developments by 2016. This is partly because there is a lack of land available for the construction of new homes in prime London.

Liam Bailey, head of residential research, said: "In key markets like London the availability of top-end developments that attract wealthy international purchasers is still very limited. The opportunity for developers to capitalise on this market is therefore a real option."

Chelsea Property News; £20 Million for 2 Bedroom House

2011-11-17T02:17:00.000-08:00

Europe may be beset by economic gloom, but one prominent Frenchman has shown his confidence in Britain as a safe haven with an eye-catching property deal, reports the Telegraph.

François Pinault, who founded PPR, the luxury goods company that owns fashion labels including Gucci and Stella McCartney, has paid £20 million for a house in Chelsea, south-west London.

The price may rise eyebrows, as it only has two bedrooms, but it does have other advantages.

Pinault, whose son, François-Henri, is married to the Hollywood actress Salma Hayek, is now planning a programme of alterations to the Queen Anne revival property, which was cast as the bachelor pad of Richard Griffiths’s character, Uncle Monty, in the cult 1987 comedy film Withnail and I.

“It is the most stunning house,” said one of Mr Pinault’s new neighbours. “Although it has only two bedrooms, it has one of the few triple-height ceilings in London.”

The house was designed in 1868 by Philip Webb, the “Father of Arts and Crafts architecture”, for the watercolour painter George Price Boyce.
It was previously owned by Professor Bernard Nevill, the eminent aesthete, who was the design director of Liberty during the Sixties and Seventies. He is understood to have paid £80,000 for the property, giving him a profit of £19.92 million.

Nigerians Spend £87 million on top London properti...

2011-11-02T02:43:00.000-07:00

Kensington Flats & Houses For Sale & Rent: Nigerians Spend £87 million on top London properti...: Nigerians bought £87 million worth of UK million-pound properties in 2010, according to a research report published by Hawker Beechcraft Cor...

Police Crime Map; ARLA Response

2011-11-01T04:28:00.001-07:00

In response to the launch of Police Crime Map 2.0, Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA) and the Association of Residential Lettings Agents (ARLA) said:

"Any measure that helps people research an area they may be moving to is a good idea in principal, but this should always be used as one of a range of tools, rather than a definitive measure for making a decision about any one area.

"We would always urge prospective house buyers or tenants to seek advice from as many credible sources as possible, as well as from a licensed NAEA or ARLA agent who can provide professional and reliable insight into local areas."

Royal Borough of Kensington and Chelsea Garden Squares Top Destination for Gulf Investment

2011-10-08T03:49:00.000-07:00

Garden squares are one of London's defining neighbourhood features, especially in Central London, reports Gulf News.

Garden squares are one of London's defining neighbourhood features, especially in Central London. The layout of the Georgian and Victorian squares has made a lasting contribution to the quality of life in London.

Their presence, combined with the quality and design of the residential properties that were developed around them at the time, has since proven that high-density (by today's standards) developments can also achieve high property values.

There are some 600 squares in London and a sixth of these are located in the Royal Borough of Kensington and Chelsea. Residential properties overlooking a garden square, especially a private one with shared access for the local residents, are known to attract premiums pushing values even higher in areas already at the top end of the London market.

Last year, the level of premiums achieved for flats sold in these squares compared to surrounding properties averaged 50 per cent, with Cleveland Square (Bayswater's premier square, where some properties have direct access to the communal gardens) attracting the highest premium of 62 per cent. With current sales in these squares well exceeding last year's prices, the premium commanded by property for sale in these enclaves looks set to rise further.

Shortage of Houses For Sale in London This Autumn

2011-09-27T01:37:00.000-07:00

September’s House Price Index found that new sellers have raised their asking prices by an average of 7.2% over the past year, a clear sign of the strength of the market in the capital. The average asking price for a property in London now stands at £427,889. With fewer new sellers coming to market than in the same period in 2010, this year’s autumn selling season looks to be starting with less fresh stock for London’s prospective buyers to choose from. London buyers should also be aware that the average time on the market for a property in the capital currently stands at 96 days, and with just 98 days left until Christmas this leaves a very narrow window in which to tie up a deal in time for the festive season.

Miles Shipside, director of Rightmove comments: “After a pause for breath over the summer holiday months, London’s buoyant property market looks set for a brisk autumn as buyers chase a more limited choice of fresh properties than we saw last year. The extra bad news for buyers is that while sellers may be more subdued in numbers, their negotiating hand is strengthened as buyers have fewer alternative options”.

This month is the third anniversary of the collapse of Lehman Brothers, which triggered the freeze in credit markets and wholesale mortgage funding. In spite of three years of unresolved financial uncertainty, this September’s sellers are asking £427,889, an increase of just 8.5% (£33,641), on September 2008. In the previous three year period of 2005 to 2008 prices went up from an average of £279,891, an increase of 40.9% or £114,356.

In September 2010, 20,496 properties came to market in the London area. This year the number has dropped to 17,966, a fall of 12.3%. In a marketplace where demand is strong, this is a significant reduction in supply that will maintain the upwards pressure on pricing in the capital if it continues. Last year saw the suspension of Home Information Packs in May, so property listing numbers were buoyed for a few months by speculative sellers who had previously postponed their moves due to the extra costs of a HIP. This has now worked its way out of the system, which could explain part of the reduction, as could the inability of some potential “trader-uppers” to raise the funds to reach the next rung of the housing ladder.

Shipside comments: “With the continuing turmoil in the financial markets, and the threat of a Greek default, we are seeing a flight to safe assets and the London property market is benefitting from this trend.”

Rightmove

London Property Hotspot Prices Set to Double

2011-09-09T06:11:00.000-07:00

Property prices in some central London hotspots are set to more than double by 2016, driven up by a mix of factors including volatile financial markets and major new transport projects such as Crossrail.

But the gap between prime central London prices and the rest of the country is widening, as growth has already soared over 10 percent this year.

House prices have fallen in all areas of England and Wales in the past 12 months, except London, with prices falling nearly 9 percent in the north east region, according to recent data from the Land Registry

International Demand for London’s Prime Properties Greatest in Rental Sector

2011-09-02T03:50:00.000-07:00

Propertywire reports that international tenants are taking 60% of prime London lettings, driving rents in the capital to new highs, according to the latest index from Knight Frank.

Rents in the sector have hit record highs having risen by 26.3% since June 2009, highlighting the dramatic turnaround in landlords’ fortunes on the back of new tenant demand from Asian and European tenants.

It shows that prime London rents have been rising for over two years and since January have risen by nearly 7%, including a 0.2% rise in August.

Despite the high levels of capital value growth in London over the past two years investors have been securing higher investment yields. Average prime gross yields have been pushed higher by rapid rental growth, moving from 3.3% to 3.6% in central London between June 2010 and August 2011.

Landlords are beginning to see increased competition, with new rental instructions higher by 23% in the three months to August, compared to the same period in 2010.

There is scope for more substantial increases over the next few months, with inspections of potential new rental properties up by 45%, according to Liam Bailey, head of residential research at Knight Frank.

Demand has also risen, offsetting the growth in supply, with an annual rise of 16% in new tenant registrations and a corresponding 17% rise in viewings in the three months to August.

Housing Benefit Cuts; RICs Residential Lettings Survey

2011-06-09T01:49:00.000-07:00

The first month of the housing benefit cuts saw private sector rents rising across the country and soaring in London and the South East, according to a survey out today.

It’s still very early days but the evidence from the RICS residential lettings survey for April seems to contradict the case made by work and pensions ministers that the cuts would trigger a fall in rents because housing benefit pays for 40% of the market.

Instead the balance of surveyors saying rents rose rather than fell rose again to +40%. And the most significant increases came in London and the South East, where the RICS says that ‘rents in some areas have now risen so sharply that previously affordable homes are now unattainable to many, as an increasing number of renters are priced out of the market’.

That was despite an increase in the supply of properties coming on to the market.

That’s obviously more bad news for people priced out of home ownership by high house prices and a shortage of mortgages and now forced to pay rising rents, which in many cases will be significantly higher than the mortgage payments on the same property.

But it’s very bad news too for anyone relying on the local housing allowance and especially for those in London and the South East - the regions where the bedroom caps introduced in April will bite hardest and where the shortfall caused by rates being set at the 30th percentile is likely to be highest.

An RICS member in expensive Kensington & Chelsea, for example, reports that ‘we are achieving some exceptional rents’.

Another based in central London says that: ‘With rents still rising in central London we wonder when they will plateau.’

And a third based in Westminster says: ‘Indications are that rents have now risen to a level that tenants are starting to find that they are unable to afford due to lower incomes and higher taxes.’

Any claimants forced to move out of central London and look for homes elsewhere in the capital are also likely to struggle. An RICS member in Finchley says: ‘Rents have continued their inexorable rise - albeit at a slightly slower pace - partly a a result of a shortage of stock although many aspirational first time buyers are still finding it difficult to raise a sufficient deposit or a mortgage on affordable terms. A particular shortage of two-bedroom “affordable” flats in our area has emerged.’

One small hope for trapped renters and claimants alike appears to be come in reports from some surveyors in the South East that the market is stalling because rents are not affordable to anyone.

The Westminster surveyor I quoted above also said that tenants who had occupied the same flat for three years and only seen a 6% rent increase in that time were having to move because they could no longer afford the rent. ‘The writing is on the wall,’ he said.

An RICS member in Brighton says that until the end of 2010 it could always increase rents when tenants vacated but cannot do so anymore. And one in Eastbourne reports a surplus of rental properties with applicants able to negotiate rents down.

However, they still seem to be the exception to the general trend: a positive balance of 33% of RICS members expect rents to continue to rise over the next three months.

Chelsea In Top Ten UK Most Expensive Neighbourhood

2011-06-04T01:59:00.000-07:00

Britain's Property Rich List 2011, released today by leading property website Zoopla.co.uk, reveals Kensington, London W8, to be by far the most expensive neighbourhood in the country to live, with average house prices there standing at almost £1.75 million.

Britain is now home to 220,131 Property Millionaires, down from 223,119 this time last year, and has 5,922 Million Pound Streets, where average house prices are over £1 million. London tops the list of places with the most Million Pound Streets by far with 2,290, followed by commuter hotspot Guildford with 89 and footballer’s paradise, Cobham, in third place with 78.

The average home in Kensington now costs £1,737,862 according to the study by Zoopla.co.uk, which provides free online value estimates for every home in the UK. And whilst this is £400,000 more than its nearest rival Chelsea, SW3 where the average pad will set you back £1.32m, all of the top five neighbourhoods on the list boast average property prices of over £1m and includes Knightsbridge, SW7 (£1.31m), Notting Hill, W11 (£1.17m) and West Brompton, SW10 (£1.05m).

The top 10 most expensive neighbourhoods in the country are almost entirely in the capital, with the only exception being seventh placed Virginia Water, Surrey GU25, home to exclusive Wentworth Golf Club, where average house prices are £936,653. And nine out of the top 10 on the list have seen average house prices fall over the past 12 months, with the only exception being Hampstead, London NW3.

Topping the list of the most expensive streets in Britain once again is Kensington Palace Gardens, W8 – also known as Billionaires Row - where the average property price is a staggering £19.2 million. This exclusive gated street is home to Saudi and Brunei royalty, Russian oligarchs and Britain's richest man, Lakshmi Mittal, who owns not one but three properties on the street.

Harry Hill Shakes up Property Business Again

2011-05-23T02:01:00.000-07:00

Harry Hill, legendary former boss of Countrywide and the founder of Rightmove, scored a PR hit in yesterday’s papers by announcing his latest venture, an online conveyancing service.

The Mail on Sunday hailed the new venture, saying the multi-millionaire estate agent was back at work, ‘shaking up his trade again’.

In a news story and a page-length feature, Hill spoke of In-Deed as offering a distinctive new service to home buyers by charging them a fixed fee of £650 – of which the site would earn £200, the remainder going to conveyancers who had to promise to keep clients informed every 48 hours.

Hill’s new venture is backed by 3i, the venture capital group that also unsuccessfully backed his management buy-out of Countrywide (the group was sold instead to American venture capital group Apollo at the height of the market in 2008).

Hill told the Mail this weekend that he planned for In-Deed to take 10% of market share within five years, by doing ‘a better and faster job’. According to another newspaper report, in the FT, Hill's new business will launch on AIM.

Made in Chelsea

2011-05-10T02:10:00.000-07:00

E4 has commissioned a new reality series to rival the ITV2 cult hit, based on the lives of the champagne-swilling heirs and heiresses of the Chelsea social set.

The show will follow the twenty-something residents of London's most exclusive postcodes and reveal the cat fights, rivalries and love lives behind the designer labels and blue-blood family names.

Read more

London Prime Property Leads Survey Results

2011-04-10T09:44:00.000-07:00

London and New York have retained their leading positions in the luxury Property market survey carried out by Knight Frank. Paris and San Francisco were the biggest losers, sinking from third to ninth and 16th to 20th, respectively.

The Knight Frank surveys are based on the conclusions of a panel of experts who consider the cities "in terms of their importance to HNWIs," or high net-worth individuals. The agency has been compiling its surveys annually since 2008.

The survey noted that Russians were the most active buyers of luxury property in London until two years ago, but now rank fourth in that category, behind buyers from China, Hong Kong and Malaysia.

However the survey agency notes a general eastward shift in ranking that is expected to gain momentum rapidly. While seven of the top 10 cities in the 2011 survey are located in Western Europe, North America or Australia, another survey, called "Attitudes," focused on the future potential of the world's top cities, has only four non-Asian cities in its top 10 for 2020.

Bin Collection, Council Tax, Parking Permits, Recycling ,Schools and Your Local Councillor

2011-04-08T08:59:00.000-07:00

When moving into an area there are a number of local services you need to know about. Below you can access local authority information and services; we have chosen the most frequently asked information. Just put in your postcode and find out information on;

Bin Collection, Council Tax, Parking Permits, Recycling centres,Electoral roll registration, School and Term Dates and your local councillor for your new area.

London Property News

London Property Sees 2.8% Growth

2011-03-30T08:39:00.000-07:00

Kensington Flats & Houses For Sale & Rent: Prime Central London Property Sees 2.8% Growth: "Overseas tenants for London properties are most likely to purchase prime residencies in the centre of the capital, according to an expert. ..."

More Affordable Housing if London Councils Borrowing Rules Change

2011-03-14T07:03:00.000-07:00

Kensington Flats & Houses For Sale & Rent: London Councils Borrowing Rules: "Town halls could raise an extra £1 billion for housing if the government changed the rules on borrowing, council chiefs said. Handing counc..."

Green Construction Requires a Skilled Workforce

2011-03-01T03:28:00.000-08:00

More affordable housing in London and other parts of the UK could be built if there were more apprentices.

This is the opinion of Steve Turner, head of the Home Builders Federation, who commented: "If we are going to deliver the homes we need in the future then clearly we have got to find a way of training the people that will allow us to do that."

He pointed out that the trend towards greener living and sustainable homes is a great example "of where we are going to need qualified and trained people in the future", adding that "all parties need to be working together to ensure we have got that capacity and those skills for the coming years".

Mr Turner's comments come after the Federation of Master Builders reported that the creation of a skilled workforce able to work on green building & construction under the government's retrofit initiative will require more than just 1,000 apprentices.

Building & Construction News

Prime London Property Rents Increase

2011-02-24T10:51:00.000-08:00

High end property sales and rentals are becoming the focus of many London home buyers, according to London Central Portfolio.

Naomi Heaton, chief executive of the company, commented that location is the most important priority for many prospective homeowners looking for property to buy in London.

"Investors looking to place their money in blue chip tangible assets want to buy the best real estate available," she explained.

"The savvy investor will be looking at the prime postcodes around Hyde Park - areas like Kensington, Chelsea, Mayfair, Marylebone and Knightsbridge."

Ms Heaton noted that those interested in rental yields and returns in London will be looking for good value, well-presented one and two-bedroom flats - "this is where the astute investor should focus".

Her comments come in light of research from Savills showing that average prime London rents increased by 11.5 per cent in 2010.

Consequently, rents are expected to grow this year by an average of eight per cent across prime London and seven per cent in prime central zones.

London Housing Market News

Kensington and Chelsea Council Trial Community Budget Finance Model

2011-02-21T04:21:00.000-08:00

Councils that run projects which successfully tackle difficult social problems should receive a greater share of the money central government avoids spending to help resolve the issue.

The call comes from Westminster Council, which together with Kensington and Chelsea, Hammersmith and Fulham and Wandsworth councils, is one of 16 areas trialling the new Community Budget finance model.

Westminster's Chief Executive, Mike More, speaking at the National Conference for Community Based Budgeting, cited Westminster's Family Recovery Programme as an example of how the radical change in funding could work.

The service helps families with complex problems by pooling resources with organisations, like the NHS and the Police. It has resulted in reduced offending and incidents of anti-social behaviour, reduced numbers with rent arreas and improved health.

The cost of taking 63 families through the programme in 2011/12 will be approximately £1 million. Based on an evaluation of the first 50 families who entered the programme, the total cost avoided that would otherwise spent, is £2.6 million.

Mr More said: "Local organisations - councils, the NHS and the police - are best placed to help meet the specific needs of local communities. If we can pool our resources, we can better improve people's lives.

"If the government can provide the up-front funding to take preventative projects forward - like our Family Recovery Programme - we can help avoid the costs incurred when problems go unresolved. This will ultimately benefit the whole country's finances.

"We are also working with central government to lift bureaucratic restrictions that delay or build in cost. In particular we would like to trial one family assessment rather than the plethora of adults and children's social care assessments."

Royal Borough of Kensington & Chelsea Management Cuts

2011-02-09T04:27:00.000-08:00

Three flagship councils today (Wednesday 9th February) published landmark proposals for combined services in a move to protect the frontline by cutting overhead and management costs in half.

The report, by the Chief Executives of Hammersmith & Fulham Council (H&F), the Royal Borough of Kensington & Chelsea (RBKC) and Westminster City Council (WCC) say that combining back office and management costs could save £35 million a year.

Council leaders say that combining services is the best way to protect frontline services and jobs in the future while improving service delivery in many areas.

A ‘Sovereignty Guarantee’ has been signed by the three councils to safeguard local autonomy, responsiveness and identity. Each of the councils will retain their own councillors and decision making processes. Services key to local areas, such as housing management, licensing and planning will be not be combined.